Navitas’ shares advanced higher after the company announced about a deal for a new pathway college in the heart of Netherlands, Hague. At the time of writing, 28 September 2018 (4:22 PM AEST), NVT share price has gone up by 2.28% or $0.100 to $4.49.
Early this morning, education services provider Navitas Limited announced that it has inked a new pathway college deal with The Hague University of Applied Sciences (THUAS) for a period of 5 years.
Under the terms of agreement, the pathway college will assist the University’s students to attain English proficiency and the skills required to get entry into Dutch universities. The assistance would be provided through the University’s Academic Preparation Course (PREP school). Among other responsibilities pathway college has to offer University Foundation programmes and the college will start teaching from 1 September 2019.
The collaboration comes as a part of Navitas’ continued expansion plans in Netherlands. Navitas Group CEO David Buckingham stated that THUAS motivates its students, professors and partners to emerge into open-minded global citizens and The Hague which is a political heart of the Netherland and home to the International Court of Justice, Parliament Binnenhof, and Peace Palace, is a perfect location to foster the global aspiration.
The Hague University of Applied Sciences provides higher education through its Bachelor and Master level programmes. It is located in the city of Hague, Netherlands. The University focuses on supporting its students and other members to develop as a world citizen. Training programmes and practical research is also offered by the university in collaboration with its national and international partners.
The success of the Navitas partnership with THAUS will depend upon several factors including student’s enrolment level, quality student outcomes and experiences, competitive regulatory environment, traction from international students and ranking of the partner university.
Last month, Navitas Limited reported $55.84 million loss for the year ended 30 June 2018. It was compared to the profits of $80.33 million in fiscal year 2017. Rationalization charges of $123.8 million were blamed as one of the most important reason for the plunge. Group EBITDA Margin was 15.3% in FY18 compared to 16.3% in FY17. However, it reported significant progress in their education business with progression rate of 94%, University Partnerships Pass rates of 84% and retention rate of 90%. Navitas told that University Partnerships Division grew enrolments by 6% across FY18 ahead of company’s 2020 target of 5%.
Notwithstanding the FY18 losses, Navitas stays committed to achieve 2020 target of 18% Group EBITDA Margin, Revenue CAGR of 5%, and sale EBITDA margin of 20%.
NVT was trading at $4.49 (28 September 2018; 4:22 PM AEST). The stock has seen a performance change of -0.90% over the past one year.
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